Gold Price News and Forecast: XAU/USD correcting higher as volatility shows signs of slowing
|Gold spikes as volatility drops on turn-around Tuesday
The VIX has dropped on Tuesday and Gold is higher, currently at $1525.73 and trading between $1,465.93 and $1,554.00. Global panic sets in and gold remains as the go-to precious metal of choice in a flight to safety.
Regrouping from the sell-off, induced by a flight to cash to cover margin calls and losses, gold has spiked by over 1% on turnaround Tuesday, with stocks making valiant efforts on Wall Street to recapture some higher grounds within the freefalling market.
Week Ahead Commodity Report: Gold, Silver & Crude Oil Price Forecast: 24 - 28 February 2020 [Video]
2020 is certainly shaping up to go down in history as one of the most lucrative years ever for commodity traders.
Global stock markets fell sharply on Monday – posting their biggest one day sell-off since the “Black Monday” market crash in 1987 after the Federal Reserve embarked on a massive monetary stimulus campaign to curb slower economic growth amid the Coronavirus outbreak.
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